tv Varney Company FOX Business June 12, 2014 11:00am-1:01pm EDT
>> he is taking advantage of this. building that great relationship with bill clinton. i think capitol hill -- maria: he is also tweeting about it. >> good for you, mr. president. we will see you tomorrow on opening bell. thank you for joining us. it is time for "varney & company." stuart: where is that pipeline? raise your eyebrows everyone. good morning. islam is between baghdad. obama considering military help. a price spike. gas is moving up.
364. four dollars in california. as we digest all of that disappointing news, cheer up, everybody. we have a new instant billionaire. $400 million from the banks. "varney & company" is about to begin. ♪ stuart: we know that both sewall has fallen. we just got the news that cribbs has also fallen. what is your reaction to this. >> great job obama. great job, dude. it is flat out chaos. taking control of two of the country's biggest cities. now moving south.
they are approaching. president obama has reportedly denied the request. he says he is confident that forces will regain control. citizens of that city are leading in droves. half a million people have fled. now the market reaction. the price of oil spiking. we are now at 105.87. iraq exports 3 million barrels a day. that price, what you are looking at, goes up. dan dan henninger from the "wall street journal" is here today. is it as serious as what happened in crimea? >> the price of oil is going up.
they have taken the city. even the turks have to be sitting there. there was a report last night that iran had sent forces. if you ended up with iraq and iran taking over the state, believe me, the price of oil will go up even further. stuart: that is what we have. it is completely divided and highly unlikely to get back together again with the unified government. >> that is the consequence of the united states pulling out. we are not talking about leaving troops there to fight in iraq,
but to train and support the army. stuart: is it possible that the president is doing what the american people want him to do. that is stay out of iraq. we do not want to come back in in any way momentarily. >> why don't we just continue the list. stay out of china, stay out of ukraine, do not get involved in anything. it is fatuous. stuart: the rest of the world seems like it is falling to pieces and we are doing nothing about it. we are almost embarrassed by it. >> i have to reiterate.
we are not talking about sending and visions of american troops. even obama taking his own idea, we should work with allies and our own partners, okay, but the united states has to lead that effort. the problem is, and they are all saying it today, the united states has pulled back. that is why we are seeing the world, a part of this. >> i want to show you a photograph. this is an iconic photo. there it is. that is the last helicopter. i think that is the roof of the american embassy. i am not asking you to be a futurist here, but i have an awful feeling that we may see something similar in baghdad. >> it would be ugly. let me just make a political
point. we are talking about when george mcgovern ran for president. democrats now have foreign-policy that they have always wanted. going to make it very difficult for the next presidential nominee. hillary clinton could be running on what is going on now under the obama administration. stuart: check the big board. down 61 today. we are at 16,700. it was about 1950. now you are at 1936. gold creeping higher. we are up nearly $12 at 1273. the 10 year treasury hovering around 2.61%. there was some disappointing
economic news. the stocks, individual stocks, we always say it. google is everywhere. we, you and i, will have a relationship with our computer within 15 years. no effect on the stock. amazon quietly unveiling a streaming music service. the stock is down $5. netflix firing back at verizon. a slow video streaming. it said verizon close three ways of the highway. we are talking a big time drop. you will tell us why, right, nicole. >> it is the future that they are worried about. they had to lower their numbers
going forward. lulu lemon down 15.5%. a new low. that is not good news therefore lulu lemon. when i passed you in the hallways, i was actually wearing lulu lemon. it looks like they will have to lower their numbers. >> i did not notice. i want you to look at this, everybody. he is about to make his eighth parachute jump. i see the door opening. that will beat george h. w. bush. bush 41. this is the celebration of his 90th birthday. i will hold on for a second. we do want to capture this.
come on, mr. president. it looks like he is sitting on the side of the helicopter about to jump. i am not so sure i want to jump out of a helicopter. i want to get that shoot open really fast. what a guy. >> if any of us can do that at 90, you have to believe we will tip our hats off to him. when he jumps, when he comes out of that plane, we will all be able to see. there is action. there you go. hold on. in the box down the corner. we will do it. you will not miss the action, ladies and gentlemen. that is a promise. moving on, a list of failures under the obama administration.
then we have the economy, of course. the first negative quarter earlier this year. that is just partial. fox news contributor monica crowley is here. >> we are a financial program. stuart: the man is 90 years old. >> god bless him. i am in my 60s and there is no way i would even think about doing that. >> never in my wildest dreams. he has done it. he says he will do it every year. >> hats off. the entire crew, hats off, mr. president.
>> that is a solo jump. that is not even a tandem jump. that is incredible. >> we have a gang of people. stuart: it is very hard to transition from that to this question about the obama question. how does that list of failures affect my money? >> it is unraveling by his own hand. all of the scandals that you mentioned, stuart, are of this president's policies and environment. the irs scandal, the economy, a direct result of things like obamacare. driving energy prices up. not doing the keystone pipeline. all of those things you mentioned.
what it does to your money, you better hold onto your wallet even tighter. higher taxes, those are the things that are coming down the pike. it will cost you more. i think he is coming down for a landing. look at that. certainly down. >> it looks exhilarating, doesn't it. >> it looks frightening. truly frightening. >> he loves it. stuart: i keep going back to it. ninety years old. more dire circumstances. stuart: had to worry about sharks. was rescued. he became the cia's direct her. he was ambassador to china. he was then the president. number 41. the father to president george
w. bush. now, at 90, jumping out of a helicopter. miss those trees, mr. president. >> it is his birthday today. god bless. stuart: it looks like he is hovering. making it longer than it needs to be. [laughter] stuart: i want to be on the ground. i worry about the landing. >> have you ever jumped out of a plane? stuart: nor would i ever. he really is taking his time coming down. >> he is enjoying every second of this. >> this is bush. barbara bush.
if he wants to do it, god bless them. i think he is crazy, but he enjoys it. [laughter] stuart: i wonder if bush 43 is on the ground waiting. >> i think that he is taking him for a spin. stuart: he has to be getting pretty low. i can see the tree trunks they are. it's not like he is going very fast. >> they are coming in for a landing. stuart: it has to be really close. that is water. you know, for a moment, i thought he was landing on that
roof. [applause] stuart: yes, sir. >> fantastic. good for him. i do not want to leave this. i want to see the man it up. i want the cheers. >> there was a 93-year-old normandie veteran. god bless these guys. stuart: yes. 10 feet from the landing spot. okay. radio talkshow host who spawned the election away from eric cantor and towards david brandt. >> talkshow host and other conservatives. he is largely -- we have a
choice here. we have a constitutional conservative running against. it gives them a lot of credit for coming out early and often. i am a constitutional conservative. so many others have backup. we need to save america. >> all of the background. stuart: you do not have on a microphone, charles. the microphone is now on. charles: anyway. >> you are on the air, charles. [laughter] stuart: you are glad he won. that is all you have to say?
>> yes. stuart: when president bush started his descent, the dow was down 66. now it is down 46. there is absolutely no connection, but i thought i would point it out. give me the price of gold, please. we have the price of gold at 1272. it is up because of what is going on in iraq. check the price of oil. 106. that is because what is going on in iraq. charles did manage to join us. he said we will make some money with why why. >> an online social media play where andy warhol's prediction comes through.
they make these music videos. the first quarter of 280%. it is a chinese play. i just really, revenues were up last quarter 100%. it is a showcase for bands. doctor chief ablow. imagine you have all of these years of pent up so society like china where everyone was sort of the him down a little bit. they can go on the internet and sing these songs. along with all the other social media stuff. stuart: do you have to pay to go on it? you think it will go to -- charles: back up to about $90. stuart: is your music video on there yet? >> i am looking at the english
version. stuart: okay. the dow is down 46. no movement there. those protests in several cities all across europe yesterday. they were objecting to uber. that is what they were doing. they shut down a couple of european cities. 850% increase in sign-ups for their purchase. what do other ride and share companies think about this? joining us in the studio now, he has been sitting here patiently for a while, a ceo of ride scout. that would be an uber competitor. stuart: i don't care if we have to compete with uber or
whatever, you are a part of it, aren't you? >> the sharing economy is nothing new. sharing goods to help people. technology now is getting at a new flavor. >> am i sharing my car? am i using my car for a shared environment and some weight? >> it is a different kind of platform. all of the available right options. >> individual writers. >> that right. they aggregated on your website. >> all of these new companies come out. consumers can see proximity and they can choose between all of the different services that are out there. as of monday night morning, we are in 69 cities across america. we are launching at northside.
they want you out. they are doing their best to keep you out. >> what they really want, they want their regulators to look out for the needs of city drivers and taxi drivers to make the playing field there. taxi drivers are not against competition. they just want old regulations to be fair. stuart: they are against competition. you know it. i do not want some americans coming in and giving me competition. >> i want to be clear, we are talking about two different groups. those that drive the tabs. those are people hard-working americans. these are antiquated systems.
they need to be revisited. stuart: if you aggregate all of their pride chair services, how do you make your money? the people that get into the cars, they can download our app for free. there is also transportation in the service. trying to bring thousands of people onto the campus. >> you think we may use ride scout? >> as a service. charles: these delivery packages will be huge, to. >> it will. stuart: ride scout ceo. thank you very much, indeed. we brought you this story yesterday. one of the closest advisors.
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>> i think it is telling both the holy father and cardinal rodriguez are from america and what they see, crony capitalism they see in latin america is justly condemned. that economy does kill. stuart: that was part of our to be with the father discussing recent claims by cardinal rodriguez that the free market economy kills the poor. all right, here's what you had to say about those claims. how would he or the pope know about the free market? everything they have has been
free to them for years. kristol asks what market system does he recommend? the one who made the catholic church so rich and powerful? and the following to say about the cardinal. sir, i think you're out of your mind. give me one instance the people who are free and have a free market did not do as well as a system where the government does all. keep your comments coming and keep him as short as possible. we want to get as many as we can on the air. the world cup kicks off today in brazil b. the first game hours from now. just like the super bowl, we are seeing many successful ads pop up for these games similar to this mcdonald ad. let's roll it. ♪
♪ stuart: i just wonder how many takes it took. is that for real, or what? i don't know. i guess it is real, but it was pretty good. the question is if team usa is not flying in a game in the world cup, to the united states care about it? charles: not very much. i know you don't like to hear that. you do see a tide shifting since the hockey playoffs have been doing so well. americans are shipping around but the americas team have to do well to piqu peak our interest t stuart: "new york times" reports phil mickelson said not involved in inside trading with clorox
when carl icahn was try to take the company. it is still not in the clear with the trading of dean foods because he did trade dean foods. but it does seem to me part of the burden has been taken off the man just as he tees off for the u.s. open today. charles: they came up to him after a round in th in the midde determined to break this news to him. a three-year investigation and this is the precise moment. a lot of people rooting for phil. 16-1 to win did a lot of people betting on failed to win. stuart: our guy. he has the logo on him. charles: you like the young kids. stuart: the cbo says fixing thie va could cost $50 billion per year. 50 billion. i say there is a much simpler
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stuart: nice pop today for restoration hardware. charles recommended this stock three times in this program. take a bow, very good. 14%, very good. charles: it's amazing. stuart: i love this. fine company. charles: i mix them up too. stuart: the va system clearly broken. tens of thousands of our veterans receiving long waits for service, some not getting help at all. it seems to me there is a solution to this problem. give these people vouchers. give our vets a voucher and you can go spend it at any doctor or hospital you choose. covers belmar smith from texas is with us now.
i don't know what you think about the voucher idea, don't know if you're for it or against it, and one way of dealing with this. i want to know why can't we do something? >> the answer is we can, we have a bill to do just along the lines of what you suggested. important thing is to get the veterans health care wherever it comes in. if it comes from the va, that's fine. but comes from the private sector, that's fine also. get them to health care they now. stuart: you have. support for that. and i'm sure it will pass in the house. >> i'm absolutely sure. stuart: i'm sorry keep interrupting you, but you know it will not be taken up in the senate, it won't. >> that's the problem we had it will pass the house i hope in the next few days but who knows, maybe they will be hope the senate will do the right thing. a lot of them for many, many months, couple years or more.
in my district i represent the acting secretary of the va within our district and i met with him recently and they admit they have three quarters of the facilities around the country have apparently been falsifying the records as far as the wait times by veterans. that is inexcusable and cannot continue. this bill has a chance of passing, let's put it on the senate. stuart: i have to ask about eric cantor's upset loss to david brat. the tea party brat establishment eric cantor. whose side are you on. >> they will be a lot of campaigning on the election board, the vacancy will be a week from this coming monday.
stuart: can i label you a moderate on mr. cantor swing of the party or cap put you on the other side? >> i'm a conservative with immigration. stuart: okay. reports san antonio come your area, is in the running to get the tesla battery factory. what are you going to offer them to bring them to san antonio? >> i think we are in the final running, nevada is a front-runner for the factory. we would love to get in san antonio, local officials are doing everything we can. i've met personally with elon musk, the head of space x and owner of the company that will be building the facility. we are doing everything we can, hopefully it is a decision for the company what is good for them economically. texas has everything to offer. no state income tax, no burdensome regulations, a great place to live and work, we hope they come.
>> we got our weekly read on the job market this morning. number of americans filing new claims for unemployment benefits unexpectedly rose last week. climbing by 4000 hitting seasonally adjusted 317,000 for the week ending june 7. national highway safety traffic administration opened investigation into the airbag defaults. in the 2002-2006 model years. they are being investigated in the probe. safety regulators have opened the investigation after receiving reports of airbags rupturing and injuring passengers. twitter will play a huge role in the world cup, they will make money. we will tell you how. that is next. my mother made the best toffee in the world. it's delicious.
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five tech stocks with more than a 10%... change in after-market trading. ♪ all the tech stocks with a market cap... of at least 50 billion... are up on the day. 12 low-volume stocks... breaking into 52-week highs. six upcoming earnings plays... that recently gapped up. [ male announcer ] now the world is your trading floor. get real-time market scanning wherever you are with the mobile trader app. from td ameritrade. stuart: twitter executive resigns on twitter. nicole: the question is whether or not they need a chief operating officer because apparently he didn't meet their expectations of boosting the customer growth and coming up with new ideas and innovation, and so with that they basically said he wouldn't have his duties
as chief operating officer. i was under the impression he would be an advisor, a twitter employee, and he goes and says bye-bye, twitter. like he is leaving out the door today. so little confusing. it is notable he sold a large amount of his shares. that's never a good sign. stuart: that's very interesting. okay. nicole, i noticed the stock prices up very nicely. i will let the stock price move up to the world cup. it will be absolutely huge on twitter. i don't know how many billion tweets will go out there, but it will be huge on twitter. pierce the question for laura, how will they make money out of this? all these tweets, billions of them, how di do they make money? >> i did some digging. first of all, there is engagement. people are into games and they are talking about them on twitter.
but then there are two things be at this happened with twitter and the nfl earlier this year. but it could also help here. great video from some of the matches is retweeted with brand sponsorship attached to it. just this morning mcdonald signed up with twitter for the promoted trend in 57 countries mcdonald is sponsoring those trends for 24 hours. the tournament is a month long, measured have a worldwide sponsor like mcdonald's doing that for every day of the tournament. it could be huge money. stuart: that's why the stock is up nearly 5% today on news like that. eric cantor surprise defeat, that killed chances of an immigration reform to this year. president obama's refusal to reform our immigration laws is leading to a huge influx of unaccompanied children crossing the border into america. judge napolitano is joining us
from the nation's capital, d.c. judge, it looks to me like anybody who lives in latin america 18 and under if they get across the border, they are here forever and will give them a lawyer to make sure they stay. are you just a tad outraged at this? >> yes. everybody should be outraged about it. whatever your views of immigration are, whether we should have open borders, i'm in that camp along with the colleagues of the "wall street journal" and ronald reagan. this is not an issue of ideology, this is an issue of the president doing his job. here is why people are outraged because 13 months ago president of the united states of america said to illegal aliens, you want to stay here, here's what you can do and i won't deport you. he tipped off 13 things. like get a high school diploma,
learn to speak english, pay taxes, get a social security number. the problem is he wrote the law come at wasn't done by congress, he do what i want you to do, i won't kick you out. the unintended consequence of that has been for tens of thousands of young people unaccompanied by young parents with just the clothing on the back and a backpack with a bottle of water coming over the border from mexico to texas, arizona and new mexico knowing once i got to the president wouldn't take them out and their parents presumably believing when the kids are here it would be a hoax for the parents to come. stuart: they are encouraged to come. and you have a have a humanitarian crisis on my hands. >> here's what the feds are doing. for the first three weeks they are here, they're providing them with food, clothing, shelter, health care, education and
lawyers. after they've been here for a month or so the feds are going to expect the government of the state to which they have come, which don't want them, which don't have the room for them, which don't have the resources to pay for them, to do the same thing. all of this is because the president abuses his authority and decides which law he wants to enforce in which law he doesn't. stuart: and who wants the hispanic vote. this is about the hispanic vote. if i say no, you can't come in, we are not going to give you lawyers or educate you and feed you, i'm being harsh to children and i lose politically. it's a win-win for the president by breaking the laws of our own country. it is an outrage, judge. >> you know what the remedy for this is? the remedy is the i word. impeachment. when the president so enforces the law that the effective is the opposite of what the law intended, telling people how to
break the law and reward them for doing so, it's time to look at his worthiness to be in office. look, mr. president, if you don't believe in enforcing laws, you took the wrong job. stuart: i thought you're going to say the answer to this is electing real conservatives the house of representatives and united states senate like your favorite, mr. david brat. you mr. opportunity. >> i'm a couple miles from the belly of the beast right now, trying to think constitutionally, stuart. you know the things the bricks don't have, the constitution. stuart: am speechless, judge. i need you back in new york so i can look you in the eye and you can do your prince imitation. >> prince philip, it is your majesty, he will have me there in a flash. stuart: thank you. how is this for geewhiz, shop
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stuart: try it before you buy it. now print of different engagement rings styles and sizes from the comfort of your home if you have a 3d printer. brilliance is the name of the company behind slightly on romantic notion. the director is here to explain how it works. welcome to the program. i'm going to pick this up. is that okay with you? this is a 3d-printed version of a 1 carat diamond. it looks very realistic.
so if i like the idea of a 1 carat round diamond i get a hold of you guys and i can 3d print it so i can tell what it looks like before i buy it, is that accurate? >> correct. stuart: limited to the carat size and the style of the cut. >> we want you to see and feel how it would look like instead of just purchasing it blindly. we have many customers who have never been to a jewelry store before and they purchase a princess cut 1 carat and it is a bit surprising to see on your finger because it is not the same as what you see on google images. stuart: it does look real, that is for sure, but are you using this as a vehicle to offer and sell the real diamond ring? >> correct. stuart: oh, you are. i knew it. >> these are for middle schoolers.
stuart: this is an enticement, a form of advertising. at them in the door, show what it looks like and they buy the real thing from you. you didn't tell me that before we went on the air. does this 3d printing, free for the real ring? >> yes. you can go on our website, we have a 3d ring section and we send it out free of charge. stuart: you have already been in business one month, how many requests have you had? >> apart from the 3d printed rings we would mail out, we also send out the digital files if you have a 3d printers we can print it at your own home which is very exciting. stuart: how much for this, the 3d mockup? >> that one is approximately eight to $10.
stuart: if i go ahead and why the real thing, the 1 carat roundcome you don't charge, do you? >> i will buy that one for you. >> thank you for joining us. the name of the company's brilliance. >> brilliance.com. stuart: it is a form of advertising. look and feel it before you buy it. it is a hook into sales for you is irrelevant. right? >> yes. stuart: terrific, thank you for joining us. a failed presidency, the latest example, iraq is about to fall. one of the president's harshest critics will join us next. plus, cantor visitor libertarian. stossel rejoices and take a victory lap. the second hour is two minutes away. we're moving our company to new york state.
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stuart: can you believe this? this? one tobacco after another. today it is iraq. 4000 americans died there, now therthey are a few miles from baghdad. look at this, the iconic photograph, th let's helicoptert of saigon, will we see the same again in baghdad? ♪ stuart: headlines, a price of oil spikes as iraq's government crumbles. the price of gas starts to move up $3.64, $3.65, and rising. ed klein called the president an amateur. now he has a book on the clintons. he's here. john stossel on eric cantor versus david brat. guess whose side he's on. google into absolutely everything, so what's next?
we have an insider who claims he knows. the world cup kicks off, team usa isn't playing? does america care? i say yes, i think it will be huge. and this presidency is failing and we are all paying for it. straight to the market action, please. down 58, 59 after a 100-point loss yesterday. oil, it touched $106 per barrel earlier. after islamist seized and are marching on baghdad. s&p 500 retreating from the series of highs it met all this week. disappointing economic news taking the yield down to 2.61%. lululemon took a huge hit, lower the forecast, down goes that stock by nearly 15%.
take that, verizon. taking control of two of the largest cities, the terrorists, let's call them that, the terrorists have taken to cities and are now marching on baghdad. ralph peters placing the blame on the unrest squarely on president obama's shoulders. listen to this. we know mosul has fallen. now we fear tikrit has also fallen. we got that news moments ago. what is your reaction to this? >> thank you, president obama. great job, dude. stuart: we have ed klein with us today. the author of "the amateur."
welcome to the program. >> good to be here. stuart: you called the president the amateur. what is your analysis of this going on now? >> this is the culmination of six years of boneheaded, wrong form policy all coming from the white house and at his doorstep, no longer george bush's problem, it is barack obama's problem. you cannot blame bush for what is happening in iraq during the disintegration of the country. stuart: when president obama walked into the white house in january of 2009, there was relative peace in iraq. violence had come way down.
there had been a democratic election with a winner and a loser, and that was a transfer of power. that has fallen to pieces since then. you say this is a direct result of president obama being the amateur. where do we go from here? >> i was thinking there was a connection between, i know this sounds like a reach between what happened to eric cantor and what is happening in iraq. i will tell you why i say that. american people are witnessing the absolute collapse of our foreign policy while at the same time looking at a domestic policy that doesn't work anywhere. they are saying what about these people we voted into power, what about barack obama, what about republican leadership. there is an insurgency feeling in this country that is connected to the domestic and foreign policy view. what we're seeing in iraq is
just one more nail in the coffin of the destruction of america's face in the elected officials. stuart: you wrote the book "the amateur" about obama. a new book called "blood. "the clintons versus the obama's.n't talk about it but yu can talk about hillary clinton and the book she is just written. comments on it. >> plodding through the 600 some odd pages of this book reminded me of that famous shakespeare line from mcbeth. a tale told by an idiot signifies nothing. stuart: strong stuff, harsh words. >> harsh words but if you go through those 600 some odd pages of hillary's four years in office, you get absolutely no sense of any accomplishment that she was able to point to.
stuart: she is not an amateur though, she is a professional politician. >> she logged a million miles and is claiming physical exhaustion is the equivalent of statesmanship, and it is not. there is no combo spent that she can point to. so if she's a professional, she's a failed professional. stuart: if there is an resurgence, do you think hillary clinton can be the next president of the united states? >> i think that is the big question because if you look at iraq and domestic policy, you see a sense of the american electorate that they want to change, they don't want a continuation of the same old, same old. they want to get rid of throw the bums out. hillary may be a victim of this. stuart: does that mean jet bush could not be the president? >> i say he has the same problem
as hillary. stuart: like i officially tell everybody what is in it? >> monday, june 23. i will be able to talk all about it then. stuart: can you leave this copy here for me? >> yes. of course. stuart: thank you very much! let's go back to iraq. oil spiking on the news. larry levin is in chicago. this is all about iraq, isn't it, larry? >> 90% of this is iraq and 10% technically strong. the most volatility in any of these markets behind me in oil and that has a lot to do with iraq. pulling back a little bit, a good trade in there, stuart. stuart: you sound like a trader, you want it like this, you don't want this. your business is dead if you do
that. you want this. >> a lot of your viewers are always pushing buttons putting trays on and they want volatility. the slow market around here. stuart: expecting the price to go up, or are a lot of people short thinking it will go down? >> most people long without the straight out futures, they want to market to go up and trade higher than they are right now. stuart: thank you very much indeed. new streaming music service from amazon. nicole, any reaction to the stock? >> doesn't that sound great? the stock is down and i will tell you why. people are underwhelmed with what they are seeing for amazon. it turns out they will have about 1 million tracks and
thousands of albums, less than pandora and spotify. but a lot of the songs are older, and they will not have songs from universal, the largest label, some of the others as well. he will not hear kanye west, taylor swift, maroon five. pandora seems to be celebrating the fact we've got that. pandora is on it. stuart: the superior service, may be. nicole: if you just want the old songs, maybe you will be okay. stuart: i do want the old songs, you got me there. the price of google at the moment it seems almost every day on this program they are getting into this, they are getting into that, there is always something new. the new things they just moved into recently. the driverless car. they acquired boston dynamics and making the big dog robots.
we love to show you that stuff. we have messed, the connected home. google glass, don't forget the search engine now being turned into a verb, you google something. and getting into autism research. right now we're joined by the former global marketing director for google play. you have three areas you say google is expanded. number one, artificial intelligence. explain this to me, what is google doing with that? >> when you look at what they have been doing on robotics, stuart, they have been getting very active with robotics and leading that initiative is a the former head of android, the godfather of android, andy rubin. when you start talking about robotics and the next logical conclusion has to be artificial intelligence. that is what is going to guide our interaction with machines and robots.
stuart: when using artificial intelligence, that to me means thinking machines. is google anywhere near the point where a machine can think for itself, not just process a bunch of information and base's future action against that information, but original thought, are we there yet? >> no, i don't think we are there yet. quoted on cnbc recently saying this is probably 10 to 15 years away. we are probably quite a ways away from that, but still a lot of baby steps that have to be taken to get there. talking about robotics, artificial intelligence is a component you have to master and improve on to achieve the vision of where they would like to go. stuart: satellites and space, what are they doing, where are they going? >> they recently acquired a maker of imaging called skybox,
which they paid $500 million in cash for. it was to improve a vigil imaging and mapping abilities of google maps. in the long-term the potential is probably greater than that. they have been quoted and mentioned in the press as having and visions around their satellites with a view of bringing internet to less developed markets. it is conceivable through skybox at some point in the future that will help make that a reality. that is a step forward in terms of their ambitions. stuart: one last one. they are going in the smart power grid making energy more efficient. what specifically are they doing? >> they've obviously had a number of acquisitions in the past, most specifically companies doing wind turbines. what they are looking at doing is the optimization of the electric grid. around this facility of how to
make electricity grid smarter, kind of smart grid technology if you will. the interesting thing about any ambitions they might have around electricity is they are already involved in fiber. they are rolling it out to eight other cities, so there may be some synergies for deploying fiber. technologies like bpl, broadband over power lines, there may be an opportunity there for them to attack both markets at once looking at how to provide high-speed internet access over power lines while how do i look at making power management and power consumption more efficient. stuart: the satellite is about to die. thank you very much, indeed. there is a split in the republican party. the tea party versus mainstream conservatives. dave brat defeats eric cantor.
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stuart: everyone in america is rich, correct? that is what i used to think, but that is terribly wrong. america's middle class had a median wealth of less than $45,000. ranking us number 19 globally. we are behind canada, australia and much of western europe. that is not good. >> and shocking results. why is this happening? report is finding the federal reserve statistics housing policy. the housing collapse wrecked it for the middle class between 2007-2010, stuart.
despite the trillions of dollars poured into u.s. housing, the u.s. homeownership rate still stuck below where it was in the year 2000. a decade and a half of problems, we are still below where we were in 2000 with the u.s. homeownership rate. stuart: number 19. >> millions are living paycheck to paycheck. joe middle-class in the united states is worth less than joe european, joe canadian, draws trillion or joe italian or joe french. stuart: when i stepped off the jet, i really thought americans had more spending power and more cumulative wealth than any place at ever been before. i have been to 60 different countries. i thought this was the promised land, this is where the wealthiest. >> the united states has 42% of the world wealthy, the millionaires.
stuart: everybody has a shot at it. >> that doesn't feel like it is happening now. a temporary hiatus from the american dream now. stuart: thank you very much, indeed. libertarians, are they up to miss watch mark quite a few differences between the two sides. john stossel is going to look lt that this week. listen to this. >> we libertarians want government to leave us alone even if we make choices others agredisagree with. that does not sit well with conservatives. conservatives want a bigger military. >> we're not doing this for them, we're doing this for us. >> they want more border patrol and limits on trade. when i criticize that, one said this about me. >> what a self-important ass. stuart: i didn't know there was conflict.
>> this is before we both came to fbn. now we are discussing our differences. stuart: i want to talk about eric cantor versus david brat. i thought brat was more of a libertarian then eric cantor. am i wrong somewhere? >> brat is very anti anti anti-immigration. that is just what i read. stuart: illegal immigration, millions of people across the border which cost us an arm and a leg. can't you oppose that, oppose it because it is wrong? >> yes. but libertarians say let more people in legally so that you don't have so much illegal immigration, a path to legality for the 12 million that are here.
stuart: using established republicans are opposed to immigration period? >> no. we are opposed to anything that could help them lose elections. stuart: i think they are very much in favor of more people coming under a visa system that works. >> i hope so. bringing in people willing to work and invest. stuart: give me another way that brat is not libertarian. >> i get the feeling he is antigay marriage. economically he is great against fannie and freddie, against tarp, against the iraq war, so in those ways he is more libertarian. stuart: if you had to choose some of it was your voice, your call, would it be brat or would it be eric cantor? >> out how to study each of their positions more carefully than i have.
i don't vote in virginia. i care more about these ideas. stuart: you know me quite well, you have been on the show. stuart: you have to cover politics. stuart: my closer to being a libertarian or a conservative? >> you are free strong military, against drug legalization, don't know where you stand on legal gambling or work. i think it should be legal, consenting adults. libertarians say that. stuart: i'm quite a long way away from you on this one. >> do you really think of yourself as a fuddy-duddy? stuart: certainly not. i should not have said it because it will be on videotape the rest of my bloody life. conservatives versus libertarians? >> that is the whole show.
libertarians say we should be able to do anything that is peaceful. stuart: you are the ones standing in the way of republican victory in november. you will lose us this election, give us eight more years of collective listen, aren't you? >> i hope not. stuart: give me the time. >> 9:00. "stossel." fox business network. stuart: you are right on all three counts. >> i should know that. stuart: it is a bold statement. president obama is ruining the very idea that is america. that is my take, and it is next. so i can reach ally bank 24/7 but there are no branches?
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terrorists. that's dying waiting for treatment. the obamacare debacle. the list goes on and on and on and on. now, look, we are a financial program. we follow money. your money, your job, your house, your hopes for the future are all connect did to what this president is doing at home and abroad. you see what is happening to your health care bill. you are giving second-class care. how about your job. are you secure? your house is still underwater. price of gas has doubled since
this president took the white house. they went in iraq. it is the very idea of the neighborhood. this president has straight out ruined it. a handout count. we should not be 17 trillion in debt. we should not be an abject in retreat. we are. november 2016, maybe things will reverse. heaven knows what damage we will all suffer while we hope for change. ♪ can you start tomorrow? yes sir. alright. let's share the news tomorrow. today we failrly busy. tomorrow we're booked solid. we close on the house tomorrow.
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for a time. 45% of them have not started saving for retirement yet. 55% save for their golden years. stuart: that is astonishing. there is no way i would be putting away money for 40 years hence. half of millennial's do that now >> i am not technically a millennial. stuart: a very good number to end it on, a very bad number to start on. thank you very much indeed, lauren. president obama saying he will not rule out anything when it comes to helping iraq.
he wants american military support. he has asked for it. the president just said he does not need anything. green mountain. now known as curate. delta, for example, down 5%. down 5%. the world cup is here. it kicks off in brazil today. will america watch. do americans care? let's suppose team usa is not involved in the game. will we watch a show between
croatia and brazil? >> everyone is talking about soccer. i think it is a terrible world cup. they lose to ghana. they lose to portugal. we may see a drop in interest. stuart: do you think that team usa will get through its group? >> not only that, they have to travel 7000 miles. they have to play in the rain forest. i think he has also changed the philosophy. stuart: he said we will make the american team and american team. >> the philosophy in america
sort of patted ourselves on the back when we made it to the world cup or scored a goal or won a game. i think he wants to go to the quarterfinals. stuart: we have a poll on our website. 90% said they will not. >> it is sort of like the olympics. no one plans on watching the olympics. stuart: what about the bars in kansas or atlanta? >> in cancer, major league soccer is hugely popular. stuart: they have a lot riding on this. team usa, major league soccer in the united states -- >> definitely.
stuart: who will win? >> it is too easy. too obvious. i will say argentina. the only thing he has not done is this. he has not won a world cup. they do well when it is in the hemisphere. stuart: are you really intrigued with soccer? >> yes. america is not great at soccer. every american plays soccer. you cannot even say that about baseball. every kid plays soccer. stuart: what will you be doing on sunday afternoon? the last day of the u.s. open. i am sure that there will be a world cup game on of some sort. >> it depends.
i will definitely be watching the world cup. stuart: who do you think will win? >> i am not going to say. stuart: he is a good man. jeff foster. you are a sports editor. are you going to come back? >> sort. stuart: check out the big board for a second. we are down 52 points. in a moment, we will bring you the videotape of president obama. what he may do in iraq.
right now, we have the dow down 50 points. the real story today is not stocks. very little action, really. the story is in the price of oil. $106 a barrel. the supply of oil coming out of iraq. if that is cut off, you can expect to see the price of oil go up. we heard from larry levin on the floor of the chicago exchange. a lot of people are betting that the price of oil goes north. that is where the market action is today. back in a moment. ♪ step seven point two one two. verify and lock. command is locked. five seconds. three, two, one. standing by for capture.
stuart: going directly to the president. >> vice president biden has said this in his very frequent interaction to the iraqi government. the politics, as well, is either going to be help in dealing with this situation or it won't. frankly, in the last several years, we have not seen the trust develop in the leaders.
that counterpart of some of the weakness of the state. that carries over. there will be some short-term immediate things that need to be done militarily. you know, our national security team is looking at all the options. it should also be a wake-up call for the iraqi government. it has to be a political component to this. they care about building a functioning state that can bring about security and prosperity they care about america and work diligently. that will require concessions on the part of them that you have
not seen so far. the last point that i will make, what has happened over the last couple of days, underscores the importance of the point that i made. the need to have a more robust regional approach to training. recovery throughout the northeast and middle africa. we will not be able to be everywhere all the time. what we can do is make sure that we are consistently helping to finance, train, advise military forces, including iraq. that is a long process.
it is one that we need to get started. i will be calling for congress to help finance. giving us the capacity to extend our reach without sending u.s. troops. that will be more effective. it will be more legitimate in the eyes of people in the region, as well as the international community. it will take time to build it in the short term. [inaudible]
>> i will give a speech about all of this. the basic principle, obviously, we, like all nations, are prepared to face action whenever our national security is threatened. the issues have to deal with the broader international border. humanitarian concerns. concerns about the rights to navigation. concerns around, you know, our ability to deal with instability and the consequences for populations there. those sorts of international issues wherever we can. our preference should be a partner. that is why, that is partly why australia is so important to us.
there are a handful of countries around the world that we always know we can count on. not just because they share our values. they have real capacity. we share values about democracies and human rights. a world that is governed by international law and norms. i like having them in a fossil if we are in trouble. i cannot think of a better partner. rather, more specifically then disorder. all of these could be extraordinarily disruptive.
it is more important for us to start building new partners. that will take some time. it will take some resources. we need to start now. we have learned some lessons over the last decade. stuart: all right. chaos in iraq. the president is addressing that situation. he said we will not rule out on anything. he says our troops will not play. dave nelson is with me. elizabeth donald also. dave, to you first. gold and oil going up as the president is speaking. >> this is number one with a
bullet. the price of oil going up like this points to the problem we are having here in the united states. all of these areas around the world, increasingly, we see the void filled. we saw it in iraq, we saw it in crimea. all of this, is about oil. stuart: you think that this could be the straw that breaks the camels back? >> it certainly is not good. if you are looking for a reason for a correction, this is it. liz: this is the issue. they want that islam is terrorists, they want to build a state that would stretch into syria as well. breaking up what was thought to be iraq. already accustomed to a steady
flow. it hit levels not seen since udon -- it was considered a stabilizing force in the oil market. now that is being seen by the hour. iraq was the second-largest producer in opec. you have to say when will it end? we seem to be in it for the long haul with instability in iraq. stuart: the dow is now down 62 points. it is that almost at 1640 oil. it has gone up a little as the president was speaking. the price of oil is up also. chaos throughout the middle east will be the catalyst for a stock market decline. twenty seconds. >> i think that it is quite
possible. stuart: everything. building this four years ago. dave nelson, thank you very much. elizabeth, thank you. back in a second. ♪ are the largest targets in the world, for every hacker, crook and nuisance in the world. but systems policed by hp's cyber security team are constantly monitored for threats. outside and in. that's why hp reports and helps neutralize more intrusions than anyone... in the world. if hp security solutions can help keep the world's largest organizations safe, they can keep yours safe, too. make it matter.
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stuart: the faa approves the first drone to fly for commercial purposes. it is being used by bp. it is called the month. it is four and a half feet long. we are joined now by the ceo of that company. his name is tim connell. you are a publicly traded company. if we take a look at the chart, a very nice pop right at the time where you have faa approval. how many of these drones do you have flying right now? >> a little over 1 million hours of flight history on a family of small systems. over the last decade with the u.s. military. puma is the largest of our small
planes. stuart: does your company operate these planes? is that how it works? >> right. a business relationship with bp. we call it mission services. the hardware, the operators, it delivers actionable information to british petroleum. much like we do with other customers. stuart: there is widespread use of this kind of plane. gathering information in all kinds of ways. can you scale off your information? can you scale up pretty fast? >> we have been scaling this element for well over a decade. we currently supply about 85% of
all the young man airplanes. all of the services and hardware for 30 other countries. stuart: you are the firmly established drone company in the united states of america. your stock is a pure play on that. you are the guys. >> the largest generating segment of our business is the unarmed planes. that is correct. stuart: how much? >> we have not established or published a price mechanism yet. i can tell you that bp, at this stage of their adoption, it not only offers them significant economic benefits --
stuart: said to say, my time is absolutely up. deirdre, it is yours. deirdre: thank you. only 90% of people would actually be a roaring the world cup. we will be talking about that off-line. there is a shakeup. the ceo of twitter resigning via a tweet. the earliest and largest investor telling me how he sees the company's future. uber and list lift want you so badly as a customer, they will pay you. the u.s. open officially in swing. i will get you out to one very special golf course.